KXD Digital: SGX has issued a reprimand to KXD Digital and its chairman Liu Fusheng due to breaches of listing rules and corp governance issues. The list of problems include failure to disclose the ceasing of business operations since 2009, a lawsuit against co costing US$112m and US$87m by Philips…
Lack of disclosure of interested party transactions including a investment of Rmb13.5m in his wife’s controlled co and loans of Rmb83.6m. Trading has been suspended since 11 May 2010 and was to be delisted on 11 May 2011 but obtained a 6 mth extension.
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